Has iREO or REO PRO CORP contacted you to do business?

Fellow Realtors: Have you received emails from REO PRO Corp, looking for experienced listing agents of REO, Short Sale, and Pre-Foreclosure properties?

REO PRO Corp contacted me back after I clicked on their link, and offered me 2 listings in my my area which were supposedly in preforeclosure.

They sent me a promotional PDF “Welcome Packet”, which was heavy on REO buzzwords and light on actual substance.

I was then pushed into a high pressure sales pitch for this program, which costs $400 up front for 6 months, and $300 for each additional 6 months. The sales rep did not call me back with a follow-up when I told him that I would have to think about their proposal.

Their published office “address” of 1000 N West Street, Suite 1200, Wilmington, DE 19801 is actually a Regus Virtual Office. Their published phone number of 302-570-0736 is serviced by Bandwidth.com, and is most likely a VoIP number. Their office numbers beginning in 302-394-9xxx are serviced by Peerless Network, and are most likely also VoIP numbers. In other words, they probably do not have an actual presence in Wilmington.

Their Facebook and Twitter feeds are simply set up on auto pilot to drip out the same articles fed from DSNews.com‘s RSS feed. Not much original content on their social media channels, save for the video testimonials without last names and contact information of the agents speaking the “praises” of REO PRO CORP.

A google search returns this REO PRO Corp review page at ModernComment.com. These reviews appear to be fairly worthless, given the lack of last names and any contact information for the reviewers. Some of the reviews are even left by anonymous commenters! It should be noted that ModernComment is a PAID comment review system!

Needless to say, I was not interested. Below are the emails which I have received. Please feel free to comment below if you have any positive or negative feedback about REO PRO CORP. Comments with web links are held for moderation and are not immediately displayed.

Email 1

We are looking for an experienced listing agent for a property located in XXX, XX.

Please follow the link below for this assignment.
http://reopromlinfo.com/pages/xxxx/

Thanks

Eli Greene
302-394-9140

To be removed from this list please visit manage subscription to unsubscribe.

We currently have received an assignment in the coverage area of xxxxx. The status of this property is under pre-foreclosure and we expect to receive back as a listing. We have an opportunity to turn this into a short sale, so I am looking for agents who can help in both the Short Sale or the REO. If this sounds like you, please let me know and I will have an asset manager return your call.

Please indicate a good time to call you.

UPDATE 1 – thanks for the comments so far! Feedback received indicates that these may be the same people behind BankerREO and FootprintsRE. Please see the following articles on LinkedIn, Ning, and ActiveRain.

UPDATE 3 – Check out Richard’s comment to this article, he said that REO PRO CORP tried to give him an actual REO assignment… which just happened to be Richard’s own listing that he closed the week prior!

UPDATE 4 – Thanks for all of the great comments and feedback about REO PRO CORP! Please be sure to read through all of the comments at the bottom of this article, as they clearly describe the lengths to which these people lie to cheat you out of your hard earned commissions.

UPDATE 5 – Here are TWO discussions on LinkedIn with more negative reviews about REO PRO CORP:

I also have been contacted by these “scammers” asking for $400.00 up front. They gave me two addresses, which, according to them they needed BPO immediately. I explained to caller that they are supposed to be paying us, not us paying them. So right, sounds like “BankerREO” on steroids.

$700 per year is way above any REO platform fee out there. what is “pre foreclosure” and “They expect to get the listing”? SO you pay the money and do a bunch of free BPO’s and might get a listing? They gave me 3 addresses right away and 2 of them were listed currently nether said short sale.

Something didn’t feel right, that’s why I’m looking them up. I looked up the two properties they gave to me. Zillow shows pre-foreclosures, so what would I be paying them for, information I could look up on my own? Come on guys! Save your money.

sadly, fell for the pitch and paid them today. Can’t find the promised “cancel”button on their website. Bank won’t stop payment. Any clues as to getting my money back? I sure would appreciate any advice.

I fell for the pitch also and paid them the $400.00 No listing and no return emails to them and no return phone number etc. A Mark Riley was the person that pitched the scam on me.How can I get my money back and I would appreciate any advice also.

I fell for it too a couple of years ago when they were BankerREO. I also did 2 BPOs for which I had been promised $75 each. They still call under different names. Today I got a call from a KIM RILEY. She left a message on my voice mail. I called it back but she was busy on another line and asked if she could call me back. I happened to think that this might be the same people so I looked her and IREO professionals up and found this and a couple of other sites. I have blocked her from calling me back. Want nothing to do with these people. I tried and tried to get my money back and to be paid for the BPOs but to no avail. Expensive lesson.

I received a call today from “REO Properties” or “IREOPRO” by Avery Goldman at 302-358-2214 and 302-570-0736. He tried to give me 2 listings and asked for $400 for the year. He said the promise was at least 2 sales per year. He used ICBA as a reference as well, but I think that is a legitimate company. I am going to call him back now and give him my piece of mind. Why don’t they get an honest job, like us, and work ethically to make their money? Thank you for this blog and have a great day fellow professionals!

They got me also…Just got a call from TeamLear-appears to be the same scam…If I were you I would go to my bank and demand they let me stop payment…They should do it if you tell them it’s a scam…Show them on the internet the info…Wish I had caught mine soon enough…I did 10 BPO’s before I caught on…Dumb me…1st and last time…

Thanks for the heads up. Just got off the phone. Told him I had to do due diligence. He was just TOO good of a closer; too skilled at the sales stuff and VERY scripted. NO legit REO companies are scripted. LOL. I really appreciate all of the comments. This is just one of the reasons I love the internet!

Today January 24th, 2014 I spoke with Sean Kelly with REOPROCORP.COM, and he too gave me 3 homes that are in short sale status and/foreclosure, what he did not do is give me a reason why I should go out on my own dime to do a BPO for his company with only a guarantee that if I do not get a listing from my efforts I would be entitled to a refund of all premiums paid. I did not sound like a good idea to me to do business this way, and from reading from all of these posts, I know I made the right choice in not giving this shyster any money. Zillow, Trulia, Homegain.com, and all of these online lead companies need to be checked before buying. If anyone else learns anything it is that they should check things out before they buy. If you cannot learn to say “NO” then you are indeed a sucker!

I received several calls from “chase” at REOPROCORP. Same line – we have 2 urgent BPOs that will lead to REO listings. Wants $400. up front. Am doing my due diligence and have not found anyone reliable vouching for them. Asked if they had contracts to service the foreclosures and he said yes. I am going to ask for referrals and see why he comes up with.

🙂 They almost got me!!! This guy Drew Porter call me with 2 posible listing just a conner away from my home! Yummy, Yummy !! When I called him back he sent me to search for their website and I saw “‘reoprocorp review” and I decided to open that one before keep on listening to him to go on to his website ……….and BINGO! that is when I found out these comments!! Thank you!!! I need my $400!!:) Hey guys I am here in South Florida pay 30% for all your refer! contact me at my email: minervastrum@gmail.com cel. 754-366-3072 or my office 954-213-0020. You can refer your client , friends & family with confidence I am a CDPE, GRI,ASP,CNE,SFR,RELO

Hi everyone, I was contacted by these people today too. I am usually someone who will pay for this because I have paid for things and it has worked out like pyramid platform. I have also been burned by Broker Price Opinion so I now check people out google them and check the BBB. Thank you all for the comments and the heads up.

I am a Las Vegas agent willing to give a 30% referral fee to anyone who contacts me from here for any buyer or seller you refer to me. I service Las Vegas, Henderson, and North Las Vegas. tinamanderson75@gmail.com tinaandersonteam.com

I was contacted yesterday and sounded legit at first. Wrote down the two addresses that “john Harrison asset manager” gave me. Before even looking at these reviews I looked up the two addresses in the MLS. One had 0 results hmmm maybe they are ok? Then the second was a short sale that CLOSED last month. Hmmm I think I might be a bit late to do an OCCUPANCY CHECK on that one. $400? yep and I have some oceanfront property in AZ I just listed, its also REO.

Thank you so much for all of your comments. Today I was contacted by Kevin Kelly (could be a made up name) “asset manager” of REO, giving me info on 2 properties and kept pressing for $400 fee. I told him that I need to do due diligence first before signing up and giving him the money. After reading all of the above, I have an answer for him when he calls me back tomorrow. As Nancy said above, thank you for the internet!

Thank you. I was contacted by Tom Wilson and said I was referred by another agent. He gave me two address, one was under contract and the other I had sold. So I went online and found exactly what I thought there were. If it is too good to be true it probably isn’t.

REO ProCorp is aggressively soliciting $400 subscription fees and have nothing to provide you for this except empty words about bogus properties. One home mentioned to me was a property I closed three years ago. It is not in foreclosure and not an REO as stated. I know the owner. The sales person is slick and promises a lot but the details reveal dishonesty. Do not send them money. There are always those who prey on others and use greed as bait to take your money and run. Here is his email:
“Below is a summary of what we discussed. Let me know what your legal department would like us to transfer into a contract and I will have my Director draw something up. I will follow up in a little bit with new assignments in that area.

Reo Pro Corporation is an asset management firm. We work directly with banks/lenders. The majority of our inventory comes from the ICBA (Independent Community Bankers of America). The first two properties we have the lender has required an Exterior BPO. If you are the agent that completes this BPO you will be the listing agent for that property. Once you submit the BPO, it is forwarded to our assurance team- who will then look over your form and if anything needs to be adjusted, they will contact you directly.

Afterwards, we send the BPO to our lender, as well as the homeowner. Along with the BPO, we also send the homeowner some information on short sales on a USB flash drive. The flash drive states that our firm understands the situation of the homeowner and we are offering them options for their distressed property, as well as a real estate agent to work with (You). One of the options we push for the homeowner is conducting a short-sale.(Keep in mind that the short-sale is not mandatory, if the agent (You) does not want to do short-sales then it is not required.)If the homeowner decides to go with the short-sale, the bank we are working with will refer you as the agent. It may potentially make you 2 sales; selling the property that the bank wants sold, as well as relocating the homeowner to another property or rental.

If the homeowner does not want to go through with the short-sale and the property goes into foreclosure, you will be the listing agent for that property. As far as our platform goes, we have a technology fee of $400 to activate your account. You should expect a minimum of 8-12 assignments within a 6 month time period. We do not charge any referral fees or take a commission split from you, our firm receives a separate commission from the lender directly. Also, Reo Pro Corporation, is a full-service asset management firm. Once this property comes back as a listing, we put the utilities in our name, take care of maintenance, handle the repairs, conduct cash-for-keys and re-keying the property. Your responsibility would be letting our firm know what needs to be done. If you have any questions please give me a call or send me an email back.

They got me! 2 listings, $400 upfront and the second 6 months free. Next day, took one home away because I asked a question. I told them I was not interested, asked for a credit, still working a dispute with my credit card company. They are not legit.

(author’s note: The email address submitted for this comment appears to be associated with someone who runs a Brunswick Zone bowling alley in Waukegan, IL. Google does not return any relevant results for a real estate agent with this contact information in Illinois. I am unsure what qualifications, if any at all, this commenter has in regard to marketing REO properties, or any other real estate.)

You people are all idiots. Has anyone in this blog actually used their services and been unhappy with them. Just because you do not understand the way your business works and you are an incompetent agent does not mean that every time somebody asks for money upfront it is a scam. I have used REO Pro’s services for the past few months and have been very happy with my experience. In the past I have paid asset managers several thousands in referral fees out of my commission for the same services REO Pro provides for one flat fee. All of you think you are so smart blogging to each other about a phone call you got and the assumptions you have made about this company even though you have never used their service. The truth is none of you have any clue what you are talking about and you all sound like morons. Try asking for a testimonial like I did if you have a questions about this companies legitimacy. Why rely on the word of a bunch of people who have never even worked with REO Pro before. Answer me this. Has anyone actually been scammed by this company?

Hi Kim,
You are right, I am sorry. I think that as agents we are solicited soooo much that we become cynical and critical when it comes to building our business.But, I also think that we are certainly entitled. I tried to do my due diligence in researching this company. I am usually way open minded and have always given a company the benefit of a doubt. I explored their website and find that the wording is not cohesive and it does very little in demonstrating what we should expect from this company. By all means, please give us some positive feedback. What is your success story?

I fell for BOTH refootprints and IREO Pro. $300 to Footprints and $400 to IREO Pro. I got 2 BPO’s from ReFootprints and got Paid on ONE of them $30.00. Never got paid on the other that I did and that was over a year ago.

I did 4 BPO’s for IREO pro and never got paid. They never return any calls or emails either and neither does REFOOTPRINTS. I would call both of them Major scams.

Are you still doing business with REO Pro? because I gave them $400 last year and got 5 BPOs (I knew I wasn’t getting paid a fee, I only expected listings as the guaranteed). Just recently started trying to get back in touch with them and the website is gone and they do not answer the number I have for them. I am happy that you got business from them but I am just wondering if you still are? I never got any listings from them.

http://www.REOprocorp.com is a scam. They just delivered their big pitch to me which seemed too good to be true. Thanks to everyone for posting on different sites because you saved me time and $. REOPRO is a scam.

SHIT!!! They just got me yesterday. I really don’t know what I was thinking. I always do my due diligence on these companies. For some reason I felt compelled to give this guy $400. I’m going to dispute this charge with my bank. OHHHHH I feel like a sucker. I even took their stupid test. ): ):

I was contacted by Blake. Urgent BPO. Occupancy check. Asked me for resume to see if i was qualified. Slick! I checked out the property and it is currently in foreclosure but anybody can figure that out. I think I take the lead and go over to the house and maybe list it as a short sale.
Thank you guys but you won,t be getting my money for public info.

I was contacted this morning. I signed up on-line while discussing the opportunity with the sales person,….I asked them to give me the addresses of my future listings, they gave me 3, and I background checked each address with public records, of which none of them had gone thru the foreclosure process. All three were in Lis Pendens. I kindly declined their offer and no sooner had I hung up the phone when they sent me an email deactivating my newly started account.
Not a legitimate opportunity. How they have 3000+ likes on facebook boggles me

great feedback! REO PRO CORP probably bought a page which was “like farmed” to get their 3000+ likes. There are scammers online who specialize in generating facebook pages with ‘likes’, and then sell the pages off where the content is replaced in its entirely, however preserving the ‘likes’ See On Facebook, clicking ‘like’ can help scammers for more info.

Thanks so much for the feedback! I just got called by these guys with same promises. Sounded too good to be true and now I know it is. I usually can smell a scam but then think I’m being too cynical. Thanks for saving me the time and effort and money!

I only opened their email today without even applying for anything. There must be a tracker because within minutes of opening the email I started receiving phone calls at the office. The gentleman’s name was Mike. He was very persistent that there is no charge and a lender gave him my name as an agent to contact and provide a listing with. I proceeded to Google this company and came across some info that backed up the feeling I got on the phone. DO NOT TRUST, DO NOT GIVE MONEY, DO NOT WASTE YOUR TIME! He would not take NO for an answer and swore there was no cost or sales pitch. LIAR!!

REO Pro Corp active in Arizona 2/27/2014. Partial addresses were given to me in zip codes/areas close to me. They do some minimal research to make the offer attractive. No pay for BPO’s and $400 technology fee (refundable of course!) for 6 months-upfront payment required.

I signed up w/ Mike ($400). Ran out and did the BPOs on the 3 “assigned” properties. Emailed Mike to ask if the BPOs were to his company’s liking and style. Didn’t get a reply. Also didn’t get a good feeling. After reading comments above, I will start my charge card appeal! What a waste of time!

Got the call yesterday about 11:30a.m. from Tom Wilson sounded real good I was on my way to a listing appointment so he was to call me back this morning. About 1:30 p.m. Mark somebody called with the same story, he said they must have duplicated the orders. This morning Tom calls to walk me thur their set up, I told him I was going to check them out before I gave him anymore information or money he acted shocked that I would do such a thing. He’s to call back Monday less see if he calls. Thanks for the warning. I think there should be something we could do to these people.

A Blake Carter has been emailing me for a week and leaving me messages. 1st contact was through my Zillow profile. When I asked about their program, he offered up a great pitch. I said I was interested and he offered up an address located about a mile from my office. He told me this was an actual reo assignment. Then he sent me the address and it is my own listing that I actually closed this past Friday. I told him so and promptly hung up. It appears they are reviewing seriously delinquent nod’s and then passing those off as though they are going to be the asset manager for them and collecting from us agents. Keep you cash and stay clear.

I received an email stating they have a Shortsale listing available in ZipCode 63177. I emailed him back and told him to check his ZipCodes that particular zip is to the main post office’s lockbox section. I told him the correct zips to enter in to emails he send to others but not to me. Today I get an email stating they regret to inform me that my acct. has been deactivated. My response, that’s te best news I’ve had all day.

I agree about the scripted part. I have been doing a quite a few reos on my own with reputable companies. I got a little weary when he sounded awfully scripted with regards to the fees and likened their site to Resnet. Most reo companies want to interview you to see if you can actually handle the tasks and make sure that you have a successful track record with reos. Additionally, one thing that Kevin said on the phone call that hit a nerve. He indicated that the bpos on the two properties that he tried to solicit with were not due until next week. He also said , “if” they ever go into foreclosure than I would likely get the listing. Why wouldn’t he know if these properties are going into foreclosure. Also bpo orders usually have a pretty quick turnaround time. Who has a week to wait for valuations? Lastly have you guys taken a look at the actual website? The wording is as if they do not understand reos and it is vary vague in terms of what they are offering.

Just got off the phone with Kevin Kelly. Same stuff about having an assignment for me in Cape Coral (FL). Answered his questions and then it came to me that this sounded like a scam from last year ( I couldn’t remember the name…but it was Banker REO) and he said “was it Footprint?”. He tried to make it sound like he knew about the scams and that they were not part of them. He even gave me the address for the home and I checked it out while we were talking and the house was a short sale that went “pending” yesterday. He said that his supervisor probably wasn’t aware of that or that the bank may not be accepting the short sale. I told him that I was going to do my due diligence and he said OK and that, of course, there will be people out there spewing lies about the company. I will call him back next week and tell him the same thing I told Banker REO…”you guys guarantee a listing or my money back…I guarantee to pay you $400 when I get a listing” You can probably guess their response. They said they don’t work that way and I told them the same. You will never pay a legitimate asset manager up-front…they always take a split.

I was contacted earlier this week by Roger at REO Pro Corp. After a couple of lengthy conversations in one day, I told him I wanted to think about it overnight & get back to him the next day.

After finding this website & reading the reviews, I sent him an email informing him that I did not want to move forward with his company. The email below is the response I received…

Gary,

sorry to hear that.. i can see from last many days that you are simply not able decide anything, others make decision for you that’s why i’m not wasting anymore time on this with you.. All companies that deal with people everyday will always have some bad reviews no matter what. I am sure you have some bad reviews for yourself also. I cannot believe if you tell me that you have pleased every single customer of yours and nobody’s ever been not satisfied with you.. All bad reviews that you may have read are from people that are not even signed with us, just some haters and time wasters i have no time for. No matter how much you give they will never be satisfied and thats just a personality trait. I evaluate i calculate my things myself!

Wow. Successful real estate professionals know that this business is people and relationship based. No successful real estate professional would ever tell a client, broker, or a business partner that “i can see from last many days that you are simply not able decide anything, others make decision for you that’s why i’m not wasting anymore time on this with you.”

Thanks so much for sharing these responses. It is obvious from their responses that the people behind REO PRO CORP know nothing about the real estate business, or REO properties. They are simply low grade scammers trying to get your money.

Boy what a waste of time! Asset manager gave me 2 listings and the longer we spoke the more listings I got. I got 4 listings by the end of conversation. Opened this site and felt so violated. As realtors we are open to a lot of scams since our information is all over the World Wide Web! It was too good to be true. I gave no money. Thank goodness!

Just got a email from the same company, so glad I read all of your comments, saved me some money, although most likely I would not have done it anyway because of all the scams out there. Agents BEWARE!

They stated they work with the Community Bankers Association & assigned me 2 BPOs, the first a short sale closed 3 months prior & second one a short sale listed for 282 days. One phone call to the Association they claimed to do business with who stated “Obviously the Cease & Desist letter is not working”. They refunded the $400 to me right away. They talked a good game over the phone and caught me off guard before I was able to check them out thoroghly…they are no doubt a SCAM running from a virtual office so they can pack up & move on quickly. Run Fast & dont believe their empty promises of listings when the rest of the established REO outsourcers have little business.

Oh boy, you just saved me $400.00. I got the email from Brian Harris and making the same promises as you have stated in previous comments. I was just about to give my credit card info when I realized that a legitimate asset management company would not handle it that way and that’s when I told Brian that I would get back to him. You know what I am going to tell him now?? Get lost!!! Thank you for your comments it save me $400

Reading all these messages sums it up. Do your due diligent and ask question and check it out. I have worked with many REO Asset managers and they are not hacks for money for the platform. They keep calling. They know how to make that carrot out there appealing. Thanks for the internet and those who use it.

Just contacted me today offering the same bs deals. Glad I googled their name and this link came up. No wonder he was so eager to sign me up. Asshole almost had me too. Anywhere I can get legit listings for Milwaukee, WI?

Spent a good 10 (wasted) minutes on a Saturday with “Mike McLean” of REO Corp. I too was deemed worthy during my “phone interview” and he allegedly had permission from his lender to go forward with assignments. After “accepting” the assignments, whose tax records did not show a lis pendens or other REO telltale signs, he hit me up for $400 to “get started.” At that point, he soon learned his time was wasted as well. Thank you for exposing these hucksters!

Wow … was on the phone with them because I replied to an email that they had 2 homes that they needed to assign to an experienced reo agent. Sounded great … they put utilities in their name, don’t take a cut of the commission, even pay for repairs themselves! So I am thinking there is a catch. Then he hits me with the $400 thing with $300 every 6 months afterwards. So I am still thinking well I pay for ResNet so maybe this isn’t a scam. Then as he starts telling me that these are actually “preforeclosure” properties and not inventory properties. I googled the company while he was still on the phone. Glad I did! I am sure he is now waiting for a call back from me. Maybe I will suggest that they hold the money out of my first commission check LOL. Thanks for all of the info. It was extremely helpful and saved me $400 🙂

Had my credit card out for my Friend John Harrison. Just didn’t feel right. I had 2 BPO’s a mile from my house to do. Easy right? I just wanted to talk to another Realtor. They gave me a name in Hollywood, CA. Great guy so very excited about the program. Almost too excited. I even asked if he was in the room next door to the “Asset Manager” John Harrison. He said of course not. It felt like maybe he was in on it. I googled and found a video http://poncie.com/2014/01/11/reo-pro-corp-legit-or-scam-fannie-mae-application/ and sent it to John at REO PRO CORP. His respose: “That video is irrelevant. He’s never worked with us. He says we are a scam because we don’t work with Fannie Mae and Freddie Mac, which we never claim we have. Also because we use professional paid spokesmen for our marketing. All companies do this. If this is not for you, then that is fine. Thanks for your time.” Just his response says it all. Before when I had my credit card out I was the best in Minneapolis, MN. “Thankfully I was referred to you”, he said. Now it’s on to find another sucker. So glad my gut said no. Now I have $400 and think I will take my wife to an awesome dinner tonight! STAY AWAY FROM THIS. IT IS A SCAM.

These people are soooo smooth. So convincing. Turns out so untruthful too. I was told that the $400 fee was a one time fee and it would be refunded back to me after my first assigned listing closed. (That’s not what the ‘Welcome Packet’ states. It calls it a $400 sign up fee. No mention of refunding it after a closing. It does go on to say they will ding you another $300 renewal fee in 6 months.) Told me I needed to have ‘some skin in the game’. Mike McLean from McClean Illinois. He also told me they assigned REO listings from Wells Fargo, Citi, Chase, and Bank of America to name a few. I have a contact at Wells Fargo looking into that. The first comment was ‘We don’t assign listings through that company, but I’ll research further and also check with our legal department to make sure’. I offered to share my paper trail with Wells Fargo legal department. Sometimes, when someone tries to take advantage of me, and lies to me, it backfires badly. The lovely ‘Welcome Packet” has a full page Credit Card Chargeback Policy that threatens to ‘file a police report with local authorities and seek criminal charges against you’ for disputing a charge. They also threaten ‘Your account will be turned over to a collection agency, which will initiate collection activities as well as report your account delinquent to all of the major credit bureaus.’ It goes on to state ‘ If you still do not resolve the situation by either reversing the dispute or reimbursing us for the amount disputed plus our bank fees, we will file a civil lawsuit against you for the amount disputed, for bank fees related to the chargeback, for additional damages for the harm your chargeback causes to our merchant credit record, and for the punitive damages as the courts do not take credit card fraud lightly’. Well folks at REO Pro Corp the courts do not take business fraud lightly either. I have not been able to substantiate any of the claims made by two different reps I spoke to. One of them even tried to assign a property to be that was a short sale that had sold and closed over a month ago! Can’t wait to hear what my contact in Wells Fargo legal Dept. has to say.

Thanks everyone James Opperman? Called with a great deal 2 listings etc. thank the lord my wife is smarter than me. I called her and had her check them out. Not good. I am a broker in Sonoma Co Ca and think that all of us work to damn hard to give out very very hard earned $ to some scam artists. Wish we could call them with a great deal, Ha. he was good had me on the line. Is this what it is all coming to? I think in 3 years all this REO short sale stuff will be by by. (hope so). If you need an honest office to help with any ref in our area we pay 25% and you never have to worry about your folks. Look us up http://www.townandcountrysonomacounty.com Thanks to you all.

I have been stalked by this company for about a month. The first initial contact I almost gave in. Until I asked a very simple question to the “asset manager I would be working with” I asked. If you are telling me that out of every ten properties you do bpo’s on seven turn into listings how many listings did you have last year ( 2013) in NH. There was silence, than she said I do not have that information it would be impossible for me to get it. Well my thought was if you had the data to tell me that 7 out of 10 listings come back to list, you should easily be able to tell me how many were listed.

I have been called by four other asset managers since that first conversation and none could answer that question. I have been selling REO’s for ten years and the asset mangers I work with do not do sales calls. After reading these comments its going to be fun when they call back.

many complaints to the federal trade commission about this company will get them to shut down. http://www.consumer.ftc.gov/articles/0243-job-scams make sure you note that REO PRO CORP pays for a virtual office in WILMINGTON, they are actually out of Illinois, check out http://www.paradigmnext.com, that’s the actual business name. if you have time to blog about it then you have time to make a difference in the people who did get scammed.

Thanks for the comment! How do you know that REO PRO CORP is associated with ParadigmNEXT? A whois search indicates that ParadigmNEXT and ABSREO.com share the same server (69.27.32.66), but I do not see any indications of them sharing same internet infrastructure with REO PRO CORP. REO PRO CORP is hosted by a virtual linux server from linode.com, and of course, their whois record is hiding behind a private registration.

As a realtor for a couple of decades, handling REO properties both as listing and selling agent, I fell for the BankerReo scam-o-rama. Don’t bite on this one. Take the girlfriend or wife out for a really nice dinner instead.

I RECEIVED SEVERAL CALL FROM PERSON NAME JOHN
AND ASKING FOR $ 400.00
BEING A REALTOR AND AN AUDITOR,I SPOTTED THAT SOMETHING WAS WRONG.
I DID NOT PAY AND IMMEDIATELY WENT ON THIS GOOGLE SEARCH.
GLAD I DID . MANY SCAMMERS ALSO SCAM POSING AS IRS AGENT BEWARE.

These guys just called me. His name is Chase. I told him I wasn’t near a computer and asked if he could call back. This way it gave me time to think and google search them. I’m glad I did. I know what to do when he calls me back. Thank you for your comments and feedback. It’s nice to know there are people out there helping others!

(author’s note: This commenter entered their name as “Jackie R”, however the email address submitted for this comment appears to be associated with someone named “Robert Morris” from “Columbia College Chicago”. I am unsure what qualifications, if any at all, this commenter has in regard to marketing REO properties, or any other real estate.)

I find this whole blog hilarious. These guys have done nothing but an AMAZING job. The internet has so many trolls…

Got a call today. Thankfully I was driving and didn’t go through set up system. Did research and not a single positive results. looks like they always have 2+ available properties to offer:). Thanks for saving my $400

So what is their end game? Just to get the initial $400 payment from you? Do they keep sending out BPOs just to make you think everything is legit or are they actually turning the BPOs into the lender?

What is the best way to get REO listings from any experienced REO agents willing to share this info??

I received two BPO “pre listings” one was vacant BOA. Five Brothers is servicing the property. Is BOA outsouring their listings thru this company? Usually, the banker/lender knows who the property is assigned to do you think contacting Five Brothers and the BOA # on the door would result in “the truth” or getting these guys closed down?

Ouch! Just got hit. What was I thinking. Actually I was not even thinking SCAM. He sounded so convincing and he said is a technology fee just as equator or resnet that It sounded legit. I am upset and embarrassed I just gave my CC to a stranger. Shame on me. I should have donethe research before. Anyways is there anything I can do? Charge back, cancel CC?

I don’t ever do this and I was suckered in due to the professional verbiage I was given. Though I was smart enough to try and pull up addresses I wasn’t fast enough to look them up on internet google. However I did before we ended conversation and he (Mark/Mike) assured me there would be no charge. I don’t feel 100% about that so I am calling my credit card company to make sure it isn’t charged $400.

SCAM SCAM SCAM!!! So these people got my boss! She is very intelligent and pretty sharp but these people are VERY good at what they do. She got a call from a guy named Chase Brennan. She was very eager to get asset managers (as we all are) and also in a rush so she did not take the time to do research on them before hand. They urged her to pay the $400 for two listings. Once she paid they gave her TWO FAKE BPO’s to do. Today its common practice to pay asset managers to get on their sites, So BE CAREFUL! She actually called them back to tell them that they are bad business people, they had the audacity to call her back twice and argue with her! Beware and do not get them your credit card info. She is working with the bank in claims to get her $$ back.

I was a also approached by John Harrison. He called it iREO. The website and company name was REO PRO CORP. I fell for it and gave him my debit card info and paid the $400. I looked up the 2 listings that he was promising me and did a drive by then looked them up on a tax site that flags for foreclosures. The properties were occupied and looked nicely managed. They did not look like any other properties that were going into or currently foreclosed on. I have listed many REO properties and there was no indication that these 2 were in default. I emailed John back within 2 hours of the initial contact after I had Google searched the company and ran across these comments. He started wanting to know why I wanted a refund. I actually pasted some of the comments on here that mentioned his name and sent them to him. He said that those people have never done business with him and that there were plenty of people that had good things to say about their business. I told him just give me a refund. He told me he would and I would get a contact from an Eli Greene today stating that he would be the one giving the refund to agents. I am not going to wait on this guy to contact me and will be disputing the charge when it hits my bank. It’s sad that we have to deal with people like this as much time as we invest in doing our jobs that we don’t get paid for.

Just got a call from “George” , he referred to himself as a “asset manager” from ireo and said he was in urgent need of an REO agent for 2-3 properties in my town. told me they use a platform called “IREO PRO” and there was a one time, life time $400 activation fee, and that there as a written money back guarantee that I would get at minimum 2 reo assignment within the first 12 months. Told George I didn’t have the business CC on me and I would call him back. Lucky I search the web and found this info about this company.

Run!! Hangup!! When you hear the name “Chase Brennen” SCAM; he called today and gave his best pitch; IREO is claiming to be asset mgrs; Well, send me $$$ to do the (3) BPO’s first, then we can talk…. This $400 is a little premature isn’t it? Well, I hung up and checked them out on google……. Thanks Everyone for your comments! We work too hard & too long for these ruthless thieves to steal from us.

They got my $400 and the next day I called the card company and canceled it. The card company so far has with held the payment; but, I believe REAL PRO is still trying to collect. How do I fight this? Any ideas?

Hey RJL . You have to watch them close. State by state have different laws as far as internet commerce. I think they can try to collect three times and you have to be proactive and say no each time. If you miss one your out of luck. Ask the cc company pro. The cc company has to go by the rules of that state. You will probably be OK because they probably have to prove they provided services. Thank you all for your comments. You saved me the grief. I experienced the same conversations with them as others except I balked when they wanted my payment info. The reason they are so convincing is because there is big money to be made. RE agents contact info is so easy to get. They all are inspired by the Wolf of Wall Street technique. You need to watch that movie if you haven’t.

HANG UP! It was a scam, thanks to all the comments below I told Avery Goldman (the REO Associate that called me) I wanted to think about it, he got mad and deleted my access to their website. LOL as if we agents don’t already have it rough out there we do not need SCAMS like them. Thank you all for your comments you saved me $400!

(author’s note: The website address submitted for this comment, “michaelgilbertrealty.com” not only does NOT connect to a website, it is NOT EVEN an ICANN registered domain. This comment was posted from IP address 50.194.105.205, which according to IP Geek, is located in Chicago, IL. Surprise, surprise, yet another shill comment from Illinois, praising the virtues of REO PRO CORP.)

I worked with REO Professionals for coming up to a year now. I find it hard to believe that these comments are about the same company. I have closed on two short sales and am currently working on an REO listing. In addition, I was skeptical at first with all the opinionated blogs out there. But I spoke with Avery Goldman and he made me feel more comfortable and I jumped in with a full head of steam. To this day when ever I have a question or try reaching out to him, he responds within a timely fashion. I will back REO Professionals up one hundred percent of the way.

Whew, that was close. Thankfully, husband and broker said, check them out and ask for other realtor referrals. Kim Riley, “Senior Asset Manager” replied I am going into a very important meeting but will get right back to you. Right!! Thanks for the informative posts. Saved me $400 and time running over the countryside for their supposed BPOs.

Watch out agent. this is totally scam. More than anything they only wants collect $400. I felt it through out during entire his sales pitch. I also did REO’s for few years and I went through few of these kind of companies even then. Anyone who did reo’s can tell John Harriman’s sales pitch is fishy. Given two address were that I checked out one was standard sale just closed and other one was NOD.
I even noted how he can guarantee this Pre-foreclosure to become my listing.
He did not answer and keep on asking me for my card which I declined and he said he will deactivate my name from his list which I was so happy that I am off of their scam list.

I think I just dodged a bullet! I received a call today from Mike Powers with the same sales pitch – has 2 properties he wants me to be the listing agent on. Properties are in pre-foreclosure, so do occupancy check and BPOs. I gave him my CC info before I checked references – not a good idea. Once I read all of these comments I called my CC company and the charge had not yet been run so I cancelled my credit card account and they are opening a new one for me. Told me to call them if I receive harassing phone calls from REO Pro. I’m not the least bit worried about their threats with credit agencies or lawsuits. I’m just glad I saved my $400! I know better next time!

I received a call from an senior asset manager (supposedly) and asked for $400 for a life time membership to give me 2 properties in my area for doing just exterior BPO values at this time and if they become REO properites then I would receive the exclusive listings. They promised me to receive 4-6 listings within a 6 month period. Initially they asked me a number of questions about my business prior to asking for the $400. They emailed me the link to get onto their site to view the orders But the $400 needed to be paid in order to proceed.
His name was Chase Brennan @ 302-394-9159
website is: http://www.ireopro.com
What a scam! They sound so calm and professional on the phone. Thank you for all your input!!

I have been in contact with a Dave Larsen claimed to be Asset Manager for REO Professionals that deals with different lenders 302-231-3023 (number left on his voicemail ) & 302-394-9145 (number on system). Same spiel.

He gave me 2 REO addresses where I would initially do an occupancy check and Exterior BPO. We have scheduled for him to call me at 2PM when I’ll be at my computer so he can walk me through signing up on their system similar to Resnet that will cost $400.

So now after researching I’ve found both addresses had NODs in July 2014 but neither one are bank owned yet. Couldn’t get much info from the Servicing companies nor lenders due to FERPA. Luckily I found this site so I can now rest assured it’s a scam and I can save my $400 and not feel like I may have lost a great opportunity.

Thanks for this BLOG you just saved me $400….
‘I could kind of hear in the voice of the sales man DAVID COLEMAN

David Coleman
Attachments1:06 PM (26 minutes ago)

to me

Hello,

I want to take time out of my day to say that I am excited about our working relationship. I want you to know that I am here every step of the way and that it is important to me that you succeed. If you ever have any questions, feel free to contact me on my direct line which is seen in my signature, or you can contact our customer service department at 302-570-0736.

Please remember to input your E&O insurance along with your Real Estate License number into your account. Also, please visit the “Download Documents” section on your account to download our Welcome Packet and eBooks. Once you have had a chance to do this, please take the quiz that can be found on the bottom left hand side of the web portal under the “Take a quiz” section. If you have issues getting setup a link to a tutorial is available directly below,

We have sent you a BPO assignment on 2102 Powers Ave. Please login to iREOPro.com and accept the BPO within 72 hours. If you do not wish to accept this BPO, please inform us as soon as possible through our platform or contact Customer Service at 302-570-0REO (0736). Thank you and do not hesitate to contact us with any questions.

Thank you all for your comments. They almost got me to sign up today. This guy “james” was very good and sounded like a very professional.. Professional Con Artist. I told him I didnt have the company credit card and I have to call him as soon as I get to the office. Thank goodness my broker suggested to check the reviews and good enough we found hundreds of bad reviews and none positive. While I was reading the reviews about this company I saw him twice calling me but I ignored his phone calls. What I am worry now is the email I received from them thanking me for accepting the terms and conditions indicating from my IP address. Now that they have my IP address, I am afraid I could get hacked by this company. I use my computer to pay bills and check my bank accounts. Can someone enlighten me about the IP address please. Thank you.

602-330-2323 Ann Adams in Arizona. Glad I googled while I was on the phone. They are giving me a person as a reference to call. To pay $400 up front? If they are for real they should take this out of the first check paid.

I fell for the sam too. In March, I paid the $400 did 5 bpos for free and then left it alone. Today I got a call from someone else in company and after “hooking” me, asked for the $400. I told him I already paid the $400. He was “befuddled”. Is there anyway to press charges against this company?

Thanks for all of the reviews of this outfit. You just saved me $400. Just had a message from David Coleman indicating that he had several REO properties in my area and was looking for an experienced agent. Better luck next time, David.

Thanks to you all. This morning, I was in my car on my blue tooth when I received the call. The first question I asked was “How much is this going to cost me?” After hearing him expound on my experience, I asked him to email me the info. I’m past wasting my time on PBO’s, never mind having to pay anyone upfront.

I knew it ! ! I suggested a half payment of $200 initially, balance the following month. The guy named Jacob Wright supposed to be an Asset Manager agreed. What kind of Asset Manager would agree to that. A real one would have kicked me out right there ! Plus it was a real hard sell like, Equator requires so much, there platform has to be maintained, etc. What is impressive is they can walk you through a website that “spells” and “smells” like REO. It happened just about 20 minutes ago today, Sept. 10, 2014. “Jacob Wright” had what I think as an Indian accent.

I ran into a situation that cost me money, not much, but still money is money.
REO_PRO offered cartoons for real estate, total cost for my package came to $82.
I placed my order 2 or 3 weeks ago and received nothing!
I have sent several e-mails to them again with no reply.
They do not list a telephone number only an address in CA.
Since this happened I’ve received several advertisements from THEM for the same product.
There are scamers everywhere most like to work the RE agents.

They just called me too. Thick accent, wanting $400 and whatever he said about Equator I couldn’t understand. I asked for his phone number, and my Caller ID said his name was Israel Godson, and the number he gave me was 302 407 0253. I just told him to put me on his do not call list and don’t contact us again.

On of my agents was just contacted by them. The third page – THIRD PAGE – of their welcome package warns the agent not to dispute the charges or else suffer a criminal charge, collection reported to credit bureau, and/or civil lawsuit. “Welcome to our company – don’t try to take your money back!” I’ve never seen a legitimate company give something like this out. In fact – I HAVE NEVER SEEN ANYTHING LIKE THIS POLICY DISCLOSURE!
From their welcome package-
“A “chargeback” occurs when a customer disputes a credit card charge. A fraudulent chargeback occurs when a customer attempts to dispute a charge for products or services that they have actually purchased.

Attempting to dispute a valid credit card charge is fraudulent and is illegal.

REOPro does not tolerate chargeback fraud, and we follow the following procedure when this takes place:

1. If you attempt to dispute or deny a valid charge, we will first contact you directly, because most disputed charges occur as a result of the customer not recognizing our charge on their statement. You will have ten (10) calendar days to reverse your dispute upon receipt of our letter.

2. If you do not reverse the dispute or otherwise attempt to resolve the situation, we will file a police report with your local authorities and seek criminal charges against you.

3.Your account will be turned over to a collection agency, which will initiate collection activities as well as report your account as delinquent to all of the major credit bureaus. In addition to our US collection agency, we also contract with collection agencies abroad.

4.If you still do not resolve the situation by either reversing the dispute or reimbursing us for the amount disputed plus our bank fees, we will file a civil lawsuit against you for the amount disputed, for bank fees related to the chargeback, for additional damages for the harm your chargeback causes to our merchant credit record, and for punitive damages as the courts do not take credit card fraud lightly.”

got a call for a mike powers and he had me hooked until the $400 charge then I kept making up questions so I could sit at the computer and google the reviews on the company and I found this and a lot of others thanks for saving me my $400.

I too received a call today at 1:48 pm from a Casey ( didn’t catch her last name). She asked me several questions regarding my qualifications. Lucky I was by a computer because I checked them out while she was on the phone. She gave me a couple of addresses in my area and there were no defaults recorded against the property. It is a scam don’t give them money or your time.

I received the phone calls and the promise of a couple of listing, but they needed 400, and 1pct of sale price, which would show up on HUD 1. I have been working reo’s, 25 years, never paid 1 penny to anyone, and was never asked. Fannie mae made us buy their software which was outrageous, but they had a bigger volume
This REOPRO or whoever they call themselves is not worth the price. I wish it was that easy, but it isn’t… Stay away from REO pro…

So, I was contacted yesterday got the warm fuzzies feelings, talked to my broker looked at this site and now feel I need to drive to Delaware to explain how I feel.
There is no way that any legitimate company could have this many bad reviews.
I spoke to Diane Dydirt at 302.358.2214
I am in the Washington DC area serving most of Maryland will give a 25% referral

Guy, named George Wright, called me today. He said that I have been referred to him by ICBA. Oh, he was so good! Very professional closer.
I was 99% ready to give him my credit card number, but while talking with him I Googled them and Bingo! There was no one positive word about them. I told him, that cannot talk right now and asked him to call tomorrow, but now I know exactly what I should do, better say, what I should not do. I have read all comments published on this site. Thank you very much ALL, for your contribution.
Yelena Tsuladze
Broker/Owner
Advanced Realty Group, LLC
New Jersey
Vice President
Realty Executives International Southern Region
Florida, Tennessee, Georgia, South Carolina, North Carolina

I too received a call from a man this morning ( Israel Godson, phone: 302-504-6693 ) who said he was an asset manager with Wells Fargo. He gave me three addresses as well…that he said needed BPO’s done on them.

I became less interested when he mentioned REO Professional Corp as the platform they use instead of Equator…and there is a cost of $400 to use the REO Pro Corp platform. I explained that I wanted to do some research on that platform and got off the call.

My “research” turned up this blog, as well as others, and no one can say anything good about this company. Nor has anyone ever said they actually received an REO listing after doing a BPO on the properties they give you.

I checked the addresses he gave me and two of them were already on our Multiple Listing Service!!! I called the agents on them and found one of which is Under Contract and closing in about a week! The other was a short sale listing…so these people may be looking at a default list of some sort because they know the banks.

IT’S A SCAM!!!!!! Spend your hard earned money on reaching out to your own sphere of influence.

Yep, just hung up with “Rosemary Woods” with IREOPRO ; she was “soooo excited to have me on her team” She gave me 2 addresses in my town, and yes they are both in Auction status. She said” now that I have given you 2 listings..” I stopped her and said, “You have given me 2 addresses-not listings. I’ll need to check your company out before I sign-up for $400.00 ..”
Did the reverse thing with her number; what AM uses a cell phone?? Wow, really…
Run far run fast my friends, just another scammer not wanting to work for an honest living.

Got the sales call today from iReo Pro with same sales pitch as mentioned above. The lady said her name was Carla Smith and her direct line is 302-358-2200. I was Googling the company as I was speaking with her, but could not find anything about their company except comments (mostly negative). She said she would give me their website and walk me through everything once I signed up and paid $400 one time set up fee. She gave me 3 addresses which I looked up on tax records while we were speaking. Property 1 did show to be a pre-foreclosure, so that perked my interest; Property 2 did not have any indication of pre-foreclosure notifications & interestingly, the owner’s name was the name of one of a top RE Broker in my area. I’m not sure if it is the same person, but seemed very suspicious. Property 3 showed to have already foreclosed 2 months prior and now owned by FNMA. Carla said her info on that property must be wrong and we should forget that one. But not to worry, she can find several more pre-foreclosures to assign to me today. By the way she said they don’t pay anything for the BPO because I would be guaranteed the listing and that’s where I would make my money.

I don’t think any legitimate asset management company would select their listing agents in this manner. Sounds too much like a scam to me. Glad I found all your comments. Thanks.

I got the same call from Carla Smith 302-358-2200. I was excited. She had all the right jargon for REO’s but she would never give me a website or other contact info except for the phone number. Looks like a scam to me. She also asked me for $400 up front.

I got a call from Sara Pitts with iREOCORP at 302-407-0423 ext 1007 spitts@reoprocorp.com as well this morning… Sounded great until I got to the point where she wanted my $400 (which was refundable if I did not make my money back selling their REO propery) she read off some local addresses… Then I jumped on here… No way. She wanted me to take a quiz even so see how competent I was.

Got a call today, just like the ones listed above. You know how they say “anything that seems too good to be true…..probably is?” That applies here. Total scam. Charges for system are $400. The caller was what tipped me off…….a complete nut case, goofy, not professional. I didn’t take the bait and then came online to research.
Thanks to all of you who left messages here so others can learn and benefit. IREO is still at it….beware.

Thanks for the blog post. I was contacted today. Thankfully, I was suspicious with the email address that they shared when they emailed me info. They used the company name Royal American Management so I looked up the company on google and called that company and they had nothing to do with REOs or the person Leesa Downs who contacted me. In her email she used their company logo information but I know that’s easy to lift off the internet to look legitimate. I’m glad I checked things out and didn’t waste any more time or give any money to her. It sounds like this scam has been going on a while from the dates in this post.

They got me last week.. name of the supposed “asset Manager” is Leesa Downs @ 302-231-3023.. I should have done more research, which I normally do with other companies . she sounded legit.. she knew what companies I had worked for in the past and she also had my personal cell phone number.. which Is scary… I contacted by bank and disputing the charges…. UGGHHH SO PISSED!!

My contact was similar to the above. February 2015.. REO BPO & assignment. Paid $ 400. Called several times & was told the agent no longer worked there but the boss, Sonny Castilia, assured me that ” my profile was activated and zips in place the orders will be coming” I haven’t been able to reach anyone since.
Our business is predicated on professional courtesy & relationships. It is a shame that dirtbags infiltrate us.